Among investors, there are few prizes more coveted than the opportunity to ask Warren Buffett a question at Berkshire Hathaway’s annual shareholders meeting. But this year, Fidelity Investments mysteriously claimed more than its fair share.
Turns out, it was no accident—and the Oracle of Omaha is none too pleased about being outfoxed on his own turf. Now he is turning the tables. “There’s no question they figured out how to game the system,” Mr. Buffett says. He said he didn’t like Fidelity’s ploy because “it’s not in the spirit of the meeting.”
Hey, guess what, Warren? You could solve this problem by making yourself available for questions more often than once a year. You’re the one who created the incentive for this mess. You can uncreate it any time you want.